The US's largest Ponzi scheme convict Bernie Madoff passed away on April 14 at federal prison's medical facility in Butner, North Carolina. The 82-year-old had a natural death, a year after the court denied his lawyer's request to release him considering medical reasons. Nonetheless, he pleaded guilty of running an investment scam in March 2009. Reportedly, around $13 billion of his investors have been recovered out of $17.5 billion.
Courtesy: Money control
The Enforcement Directorate (ED) on January 13 arrested former Trinamool Congress Rajya Sabha MP KD Singh for his alleged involvement in a ₹1,900 crore Ponzi scam. Singh is the founder and current Chairman Emeritus of the Alchemist group. The ED had begun probing into the Alchemist Group money laundering case in 2016. As per reports, the recent arrest was made under Prevention of Money Laundering Act, 2002.
Arun Agnihotri (38) has been arrested by the Delhi police for allegedly cheating more than 130 people of nearly Rs 5 Crore. According to the police, Agnihotri would promise them a monthly return of 200% on the investment made through 'Ponzi scheme'. After collecting a sufficient amount, he would shut his offices and run away. Reportedly, the accused is a resident of West Sant Nagar, Delhi.
Courtesy: India Today